The Board of Directors has set up Committees in which the Board has delegated powers and duties, subject to the provisions of the Articles of Incorporation and the By-Laws.

Audit and Compliance Committee
Herminio A. Blanco - Chairman
Gonzalo Menéndez Duque
José Alberto Garzón
Javier González Fraga
Risk Policy and Assessment Committee
Miguel Heras - Chairman
Gonzalo Menéndez Duque
Ricardo Manuel Arango
Herminio A. Blanco
Mario Covo
Roland Holst 
Compensation Committee
João Carlos de Nóbrega Pecego - Chairman
José Alberto Garzón
Javier González Fraga
Finance and Business Committee
Mario Covo - Chairman
Ricardo Manuel Arango
Miguel Heras
Roland Holst 
João Carlos de Nóbrega Pecego

Audit and Compliance Committee

The purpose of the Audit and Compliance Committee is to provide assistance to the Board in fulfilling its oversight responsibilities regarding the processing of the Bank’s financial information, the integrity of the Bank’s financial statements, the Bank’s system of internal controls over financial reporting, the performance of both the internal audit and the independent registered public accounting firm, the Bank’s corporate governance, compliance with legal and regulatory requirements and the Bank’s Code of Ethics.  

The Audit and Compliance Committee, in its capacity as a committee of the Board, is directly responsible for recommending to the shareholders  the renewal or replacement of the Bank’s independent auditors at the Annual Shareholders’ Meeting, the compensation of the independent auditors (including the pre-approval of all audit and non-audit services) and oversight of the independent auditors, including the resolution of disagreements regarding financial reporting between the Bank’s management and the independent auditors.  The Bank’s independent auditors are required to report directly to the committee.

PDF(455.05 KB)

Compensation Committee

The Compensation Committee (the "Committee") of Banco Latinoamericano of Comercio Exterior, S.A. (the "Bank") is a standing committee of the Board of Directors. The Committee is responsible for submitting recommendations to the Board of Directors ("The Board") on the nomination of Directors, benefits and compensation policies for Directors, Officers, Executives, and Employees, hiring and performance evaluation of the Chief Executive Officer ("CEO"), as well as the Bank’s human resources policies, corporate governance and Code of Ethics. The Committee is also responsible for proposing recommendations to the Board on matters related to the Bank’s operating model, processes, technology, and communications.

PDF(46.17 KB)

Risk Policy and Assessment Committee

The Risk Policy and Assessment Committee (the "Committee") of Banco Latinoamericano de Comercio Exterior, S.A. (the "Bank") is a standing committee of the Board of Directors. The Committee is responsible for reviewing and recommending to the Board, for its approval, all policies related to prudent enterprise risk management. The Committee also reviews and assesses exposures to the risks facing the business, within the risk levels the Bank is willing to take according to the related policies, including the review and assessment of the quality and profile of the Bank's credit facilities, the exposure to market risks and the analysis of operational risks, which take into account the legal risks associated with the Bank's products.

The Committee performs its duties based on reports received regularly from Senior Management and through its interactions with the Enterprise Risk Management area and other members of the Bank's management. In performing its functions, the Committee shall apply criteria of reasonableness and materiality in the scope of its duties.

The Committee is not responsible for enforcing policies or compliance with legal limits or other restrictions that may apply. Such responsibilities fall to the Enterprise Risk Management function and Management of the Bank as a whole.

PDF(31.43 KB)

Finance and Business Committee

The fundamental role of the Finance and Business Committee is to review and analyze all issues related to the development and execution of the Bank’s business and its financial management, including, among others, capital management, portfolio management (assets and liabilities), liquidity management, gap and funding management, tax related matters and, the financial performance of the Bank in general.

PDF(123.91 KB)